The implicit contract model is a serious alternative to the spot market interpretation of the labor market. However, its usefulness has been limited because the wage is unobserved, and hence it has ...
In a world with multiplicative production uncertainty and implicit labor contracts, we show that the Rybczynski theorem retains its validity; therefore the quantity version of the Heckscher-Ohlin ...
Herkenhoff, Kyle, Josh Lerner, Gordon M. Phillips, Francisca Rebelo, and Benjamin Sampson. "Private Equity and Workers: Modeling and Measuring Monopsony, Implicit Contracts, and Efficient Reallocation ...
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